The global tissue diagnostics market size was estimated at USD 3.9 billion in 2018 andis poised to exhibit a CAGR of 6.6% during the forecast period. Increase in worldwide volume of diagnostic tests conducted across hospitals and laboratories has boosted the market.

ID: 1552226

(businesspress24) - The global tissue diagnostics market size is expected to reach USD 6.03 billion by 2025 at a 6.6% CAGR during the forecast period, according to a new report by Grand View Research, Inc. Major developments pertaining to consolidation, automation, and efficiency analysis to streamline tissue-based disease screening protocols and cashflows have driven this market. Furthermore, collaborations for development of companion diagnostics are anticipated to impact adoption rate of technologies that are employed in the tissue diagnostics arena.

Need for robust diagnostic solutions as a consequence of rising cancer burden has pronounced demand for research initiatives and simultaneous product launches, thus driving the market. For example, in March 2017, California-based OptraScan began offering a subscription-based digital pathology service for research purposes, mainly for smaller labs that are unable to pay for high-end scanners.

In addition, implementation of sequencing technology in tissue-based tests would significantly impact the progress rate of this market. Major leaders like Roche are offering sequencing-based tissue diagnostics products, thus aiding market growth.

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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